Preparing the statement of cash flows-indirect method [35-45 min] Accountants for Smithson, Inc., have assembled the following data for the year ended December 31, 2012: December 31, 2012 2011 Current Accounts: Current assets: Cash and cash equivalents $ 106,100 $ 26,000 Accounts receivable Inventories Current liabilities: Accounts payable Income tax payable 64,300 68,900 80,000 75,000 57,700 56,100 14,500 17,000 Transaction Data for 2012: Issuance of common stock Payment of note payable $46,100 for cash.. Purchase of equipment $ 45,000 Depreciation expense.. 18,000 70,000 Acquisition of land by issuing long-term note payable Payment of cash dividends Issuance of note payable to borrow cash Gain on sale of building 113,000 Net income. 52,000 68,000 3,500 68,500 Cost basis of building sold $50,000 ment 1. Prepare Smithson's statement of cash flows using the indirect method. Include an accompanying schedule of noncash investing and financing activities.